McDonald’s posted a strong profit in its second quarter and named a new chief of U.S. operations. The company’s same-store sales, or sales at locations open at least a year, edged up 0.8% in the U.S.
Financial Performance
McDonald’s earned $2.36 billion, or $3.32 per share, for the three months ended June 30. Excluding one-time charges and benefits, earnings were $3.38 per share, beating the $3.32 per share analysts expected.
Revenue climbed to $7.1 billion from $6.84 billion in the prior-year period, but came a bit short of Wall Street’s estimate of $7.13 billion. Rising costs have hit lower-income Americans the hardest, squeezing their discretionary spending.
New Leadership
McDonald’s announced Tuesday that Skye Anderson will be president of McDonald’s USA. The company has also introduced a simplified McValue menu, which has 10 items that cost $3 or less, to lure some customers to stores through value meals and other specials.
Original reporting: KTBS 3 (Shreveport) — read the source article.
